V Anantha Nageswaran is the new chief economic advisor; Government appoints him ahead of the budget session

The Government announced the appointment of Dr V Anantha Nageswaran as the Chief Economic Advisor (CEA) on Monday.

The CEA plays a key role in bringing out the Economic Survey of the country. The survey presents the economic report card of the Government. The economic survey is released before the budget every year. His appointment comes ahead of the union budget. Several names were shortlisted for the position, but the ministry chose Dr V Anantha Nageswaran. The Union Finance Ministry announced this in a statement. Nageswaran has also been a part-time member of the Economic Advisory Council to the Prime Minister from 2019 to 2021.

 Dr V Anantha Nageswaran

 Dr V Anantha Nageswaran has been an author, teacher and consultant. He has also taught at several business schools and institutes of management in India and in Singapore. He was the Dean of the IFMR Graduate School of Business and a Visiting Professor of Economics at Krea University. He holds a Post-Graduate Diploma in Management from the Indian Institute of Management, Ahmedabad. He also completed a doctoral degree from the University of Massachusetts in Amherst. He has also been a former executive with Credit Suisse Group AG and Julius Baer Group. He had held several leadership roles in macro-economic and capital market research in his career.

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Economy of India

The economy of India is facing fresh challenges due to the impact of the third wave of the Covid-19 pandemic. Nageswaram and the ministry need to tackle income inequality and the growing unemployment problem. Unemployment increased more during the first and second waves of the Covid-19 virus. Nageswaram will be providing fresh ideas to boost the economy, which is already showing slow signs of recovery. The annual report card of the economy will be tabled in Parliament ahead of the budget. All eyes are now set on the 2022 budget.